Corporate cover
HIscox ASM CP (Corporate Protection) – most frequently covers all directors, officers and employees of publicly-owned commercial organisations – from small companies to household names.
All family members of covered persons are also automatically included, as well as any visitors to the assureds property and those involved in handling an insured event.
Summary of cover following an incident of kidnap, extortion, detention or hijack:
| Cover |
Definition |
What we pay |
|
| Ransom |
Cash, goods or services surrendered to meet a kidnap or extortion demand |
Full policy limit per event * |
|
| Ransom in transit |
Loss in transit of the ransom by destruction, disappearance, theft or seizure |
Full policy limit per event * |
|
| Legal costs |
Damages, defence expenses and other costs |
Full policy limit per event * |
|
| Additional expenses |
Public relations experts, interpreters, travel and accommodation, psychiatric, medical and dental care, legal advice, rewards, advertising, 100% of victim's gross salary, interest on loans, communications equipment, forensic analysis, rest and rehabilitation costs, cosmetic and plastic surgery, personal financial loss, all other reasonable costs resulting from an insured incident |
Full policy limit per event * |
|
| Response consultants |
The fees and expenses of response consultants. |
UNLIMITED |
| Personal accident |
Death, injury or mutilation that arises as a result of an insured incident |
Limit as quoted per event** |
|
| * The policy limit applies to each component of the cover. Unless otherwise stated, annual aggregates do not apply. |
|
| ** Unless otherwise stated, the standard personal accident limits apply of $250,000 per person, $1,250,000 per insured event and as specified in the schedule |
It is also possible for cover to be broadened by endorsement to include:
- Emergency evacuation/repatriation
- Loss of earnings resulting from an extortion or contingent extortion
- Products loss following an extortion incident
- Threat expenses – consultancy and security costs following a malicious threat
|
